Barclays Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

by · The Cerbat Gem

Duolingo (NASDAQ:DUOL – Free Report) had its price objective increased by Barclays from $183.00 to $295.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts have also issued reports on the company. Evercore ISI upgraded Duolingo to a “strong-buy” rating in a research report on Monday, August 5th. Bank of America boosted their target price on Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JMP Securities downgraded shares of Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. Needham & Company LLC lifted their price objective on shares of Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Piper Sandler upped their target price on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $325.44.

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Duolingo Stock Performance

Shares of NASDAQ:DUOL opened at $326.89 on Thursday. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. Duolingo has a 1-year low of $145.05 and a 1-year high of $330.61. The stock has a market capitalization of $14.23 billion, a P/E ratio of 178.63 and a beta of 0.79. The business has a 50-day moving average price of $270.84 and a two-hundred day moving average price of $221.61.

Duolingo (NASDAQ:DUOL – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. Duolingo had a net margin of 12.59% and a return on equity of 12.20%. The business had revenue of $192.59 million during the quarter, compared to the consensus estimate of $189.19 million. During the same period in the previous year, the firm posted $0.06 earnings per share. Duolingo’s revenue for the quarter was up 39.9% compared to the same quarter last year. Equities analysts predict that Duolingo will post 1.87 earnings per share for the current year.

Insider Transactions at Duolingo

In related news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the sale, the insider now directly owns 139,760 shares of the company’s stock, valued at approximately $29,001,597.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Duolingo news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.51, for a total value of $311,265.00. Following the sale, the insider now owns 139,760 shares of the company’s stock, valued at $29,001,597.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Skaruppa sold 17,591 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total value of $3,646,086.57. Following the completion of the sale, the chief financial officer now owns 88,856 shares in the company, valued at approximately $18,417,183.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,374 shares of company stock valued at $15,802,382 over the last quarter. Corporate insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Hedge funds have recently made changes to their positions in the business. Dragoneer Investment Group LLC bought a new stake in shares of Duolingo in the second quarter worth $204,768,000. International Assets Investment Management LLC increased its stake in Duolingo by 30,909.9% in the 3rd quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock valued at $100,135,000 after buying an additional 353,918 shares during the last quarter. Whale Rock Capital Management LLC lifted its position in Duolingo by 23.9% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock worth $281,281,000 after buying an additional 245,599 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Duolingo by 153.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock worth $82,450,000 after buying an additional 238,990 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Duolingo by 73.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after buying an additional 154,659 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

About Duolingo

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Duolingo, Inc operates as a mobile learning platform in the United States, the United Kingdom, and internationally. The company offers courses in 40 different languages, including Spanish, English, French, German, Italian, Portuguese, Japanese, and Chinese through its Duolingo app. It also provides a digital English language proficiency assessment exam.

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